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US Auto Sales Plunge To 6-Month Lows - Biggest Miss Since Nov 2008
Submitted by Tyler Durden on 01/05/2016 16:05 -0400Despite the blustering propaganda from CNBC's Phil LeBeau, it appears the Auto-sales (and massive inventory build) party is over in America. December US domestic auto sales SAAR printed 13.46 mm - the lowest in 6 months (missing expectations of 14.15mm by the most since November 2008). With non-revolving credit growth slowing in December, and inventories at record highs, the wheels just fell off the credit-fueled auto 'recovery'.
The "Wallstrom Affair" - How Saudi Arabia Reacts When Politicians Expose The Truth About The Kingdom
Submitted by Tyler Durden on 01/05/2016 15:55 -0400A few weeks ago Margot Wallström, the Swedish foreign minister, dared to denounce the subjugation of women in Saudi Arabia. Wallström went on to condemn the Saudi courts for their "medieval methods" and their "cruel attempt to silence modern forms of expression." The backlash was fast and furious: Saudi Arabia withdrew its ambassador and stopped issuing visas to Swedish businessmen, and The GCC condemned her "unacceptable interference in the internal affairs of the Kingdom of Saudi Arabia," proclaiming they wouldn’t bet against anti-Swedish riots following soon. Yet there is no "Wallström affair." Outside Sweden, the western media has barely covered the story.
Saudi Arabia Or Iran? It's Time For Obama To Choose
Submitted by Tyler Durden on 01/05/2016 15:35 -0400"The United States should do everything possible to avoid choosing sides in an intensifying proxy war between the dominant Shiite and Sunni powers in the Middle East. Though history tells us we should tilt toward Saudi Arabia, our old ally, if we look toward the future, Iran is the more logical partner. The reasons are simple: Iran’s security interests are closer to ours than Saudi Arabia’s are."
"We Frontloaded A Tremendous Market Rally" Former Fed President Admits, Warns "No Ammo Left"
Submitted by Tyler Durden on 01/05/2016 14:26 -0400It's not China, stupid... It's The Fed. "What The Fed did, and I was part of it, was front-loaded an enormous rally market rally in order to create a wealth effect... and an uncomfortable digestive period is likely now." Simply put Fisher concludes, there can't be much more accomodation, "The Fed is a giant weapon that has no ammunition left."
2016 Theme #2: The Hollow Shell Of Democracy
Submitted by Tyler Durden on 01/05/2016 15:15 -0400A number of systemic, structural forces are intersecting in 2016. One is the hollowing out of democracy globally. Democracy is now a travesty of a mockery of a sham, a hollow shell of PR and propaganda designed to confuse and distract the citizenry--the citizenry that is being crushed beneath the authoritarian rule that has expanded to fill the hollow shell of formal democracy.
Saudi Aramco Bus Burns Down After "Terrorist Assault" In Qatif Region
Submitted by Tyler Durden on 01/05/2016 14:34 -0400Moments ago, according to Alriyadh.com, a bus belonging to Saudi Aramco was torched in a "terrorist assault" by “four armed rioters” in the country's unrest-filled Qatif region.
WTI Plunges To $35 Handle As Loonie Hits 12 Year Low
Submitted by Tyler Durden on 01/05/2016 14:23 -0400WTI Crude prices just broke back to a $35 handle for the first time since mid-December as the combination of un-growth, Saudi price cuts, a rancorous OPEC, and production increases weigh on the world's most important commodity. At the same time, oil producers are getting hit with the Canadian Dollar plunging above 1.4000 to its lowest since 2003...
What's Next For Stocks After The New Year's Day 1 Hangover?
Submitted by Tyler Durden on 01/05/2016 14:15 -0400After getting hammered on the first trading day of 2016, what can we expect from the stock market?
Are We Headed For Another Bust?
Submitted by Tyler Durden on 01/05/2016 13:36 -0400Fed policymakers seem to be of the view that the almost zero federal funds rate and their massive monetary pumping has cured the economy, which now seems to be approaching a path of stable economic growth and price stability, so it is held. Yet, manipulations by the Fed could not bring the economy onto a path of stability and prosperity but, on the contrary, set in motion the menace of the boom-bust cycle. This raises the likelihood that the elimination of bubbles as a result of a tighter stance while good in the long-term for wealth generators is likely to trigger a severe economic slump in the near to medium term.
Apple Plunges After Nikkei Reports iPhone Production Cuts Up To 30%
Submitted by Tyler Durden on 01/05/2016 13:11 -0400Yesterday's miraculous dip-buying in Apple stock has been erased as yet another wourse raises concerns about iPhone production:
*APPLE MAY CUT IPHONE 6S, 6S PLUS PRODUCTION BY ~30%: NIKKEI
The stock is down 2.5% on the news. Time to unleash moar buybacks!!
Some Folks Are Buying More Gun Stocks
Submitted by Tyler Durden on 01/05/2016 13:18 -0400Day 2 of Obama's gun sales push is going well...
Iran Unveils Second Underground "Missile City" In Further Humiliation For Obama
Submitted by Tyler Durden on 01/05/2016 12:41 -0400"We lack enough space in our stockpiles to house our missiles. Hundreds of long tunnels are full of missiles ready to fly to protect your integrity, independence and freedom. Those who threaten Iran with their military option on the table would better take a look at Iran’s ‘options under the table,’ namely the missile arsenals. Iran’s known military power is only the tip of the iceberg."
President Obama Explains Why Making It Harder For "We, The People" To Get Guns Will Make Everyone Safer
Submitted by Tyler Durden on 01/05/2016 12:38 -0400Amid threats from various Republican Congressmen, soaring pre-emptive gun sales, and a majority of Americans (56%) believe that if more Americans carried concealed weapons the country would be safer; President Obama is set today to formally announce his executive action new gun-control measures.